“Every day when we get up we try to bring value into the retail community. That’s why retailers are queuing up to join us.”
PayPoint chief executive Dominic Taylor repeated this message a few times in RN’s interview following the company’s announcement of a 9.1% rise in profits last year, so he clearly believes it. Unfortunately, the rest of the 30-minute interview creates entirely the opposite impression.
The fact Dominic Taylor has a team monitoring social media around the clock shows this is pure bravadoWhen asked to justify his £2.2m salary while retailers make a loss, he said: “Well I don’t agree with that summation. As you may know I’ve run this business from the beginning for 18 years now.”
We asked if it is acceptable that retailers feel the need to turn customers away from paying bills at their stores because they can’t afford to make a loss on his services. He replied: “If retailers are unable to sell their products to the customers we are driving into the store then that’s for the retailer. They’re in the business of retailing and we’re in the business of trying to drive customers into the store.”
Does the pressure from the PayPoint Pay Fair Facebook group and negative national news coverage concern him about the share price, we asked, and he gave us a zinger.
“Some of the [Facebook group members] are from India and Moldova listed on that page. I’m not trying to belittle in any way the retailers concerned. I completely recognise that retailers have issues and I’m very happy to talk to them and we will do so on an individual site basis dealing with their particular concerns in their stores. I don’t regard the 2,000 on the Facebook page to be completely representative of the level of concern [of our clients]. I don’t think it is a true representation as a lot of the [Facebook group members] are not in this country.” PayPoint’s business and their clients are based in the UK.
The fact he has a team monitoring social media around the clock shows that this is pure bravado.
The key line, though, is: “If retailers don’t like us and don’t want to stay with the network then they shouldn’t stay.”
I suggest he is careful what he wishes for.
Following the 5 June 2015 edition of Retail Newsagent, we are aware that Dominic Taylor, the chief executive of PayPoint, has been accused of being a racist. Mr Taylor was answering a question about the PayPoint Pay Fair Facebook group. He referred to some Facebook members being based in countries outside of the UK and that those members were therefore not PayPoint clients and their views may not be representative of his UK-based business. He was not referring to the race of those members. We are happy to make this clarification and have amended the article to reflect Mr Taylor’s full response to that question.”